Logistic financing deal - ResearchInChina

Date:2008-04-18liaoyan  Text Size:

CHINA Merchants Bank yesterday signed agreements with three major logistics companies to smooth logistic financing to small and medium enterprises.

The Shenzhen-based bank inked deals with China National Materials Storage and Transportation Corp, COSCO International Freight Co and China Shipping Logistics Co to set up a logistics financing platform. The move is part of Merchants Bank's effort to build up its SME services.

The bank targets a quicker lending growth to SME businesses than its total lending this year. SME lending accounted for 45 percent of the bank's total corporate lending last year and the bank expects the figure to grow by 1 to 2 percentage points this year.


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